The federal government has disbursed ₦330 billion in digital cash transfers to 8.5 million poor households to ease the impact of subsidy removal and currency reforms, officials said.
The federal government has disbursed about ₦330 billion in direct cash transfers to poor and vulnerable households nationwide, Finance Minister Wale Edun announced Wednesday. The programme, a key response to fuel subsidy removal and currency reforms, aims to cushion rising living costs for low-income Nigerians.
Edun told reporters that 8.5 million households—out of a targeted 15 million—have received at least one tranche of the ₦25,000 monthly payment, with some getting up to three. “We are pleased to report that the social protection programme – the putting in place of a safety net to help people cope with the rising price level – is now firmly back on track,” he said.
National Social Safety Net head Funmi Olotu explained that linking beneficiaries’ National Identity Numbers (NIN) to a biometric database slowed payments but ensures transparency. “Mr President said no more traditional way of giving them payments: pay directly into the account,” she noted. The initiative, partially funded by an $800 million World Bank loan, establishes a permanent framework for future social welfare programmes.
This money isn’t going round o,as in I never get or hear from somebody who has gotten his/her own!!!